Target slows store growth

Target is focusing on "strategic growth" in 2010. This is how public relations puts a positive spin on an otherwise negative issue. In fact, Target has slowed new store growth and is looking to existing stores to push through to next year when the economy may improve.

The retailer held a conference call this morning to discuss plans. Product suppliers have been buzzing for months now that Target was shutting down store growth for next year and today, managements announced it would open no more than 10 new locations in 2010. Most of those have likely been in the works for some time and difficult to table without substantial penalties.